EU's three main institutions pledge historic Single Market overhaul by end of 2027

Ursula von der Leyen, the president of the European Commission, said the European Union wanted a “historic reform” of its Single Market by the end of 2027, after the heads of the Parliament, Council and Commission met to sign the ‘One Europe, One Market’ roadmap. “We want to achieve a historic reform by the end of 2027,” she said.

The three institutions have committed to deliver the roadmap on schedule and reaffirmed their aim of completing a comprehensive overhaul of the Single Market by the end of 2027. The plan is intended to let energy, capital, innovation and ideas move more freely across borders, while allowing European companies to grow and compete without obstacles.

Von der Leyen called the Single Market one of Europe’s most important assets. It comprises 450 million consumers.

The first implementation measures include 12 omnibus proposals that are reducing administrative burdens by around €17 billion per year. Six months after the roadmap was signed, the three institutions reviewed progress and issued a joint declaration setting their legislative priorities for the European Union for 2026.

The push comes amid energy and trade pressures. Imported fossil fuels have cost the EU an additional €90 billion without providing a single molecule of additional energy. Last year, the EU installed more than 80 gigawatts of renewable capacity, yet 6 times more capacity is waiting to be connected. Europe could cut its fossil-fuel import bill by €260 billion per year.

The EU’s trade deficit with China is now €1 billion a day, even as unemployment sits at near record lows.

Roberta Metsola, the president of the European Parliament, stressed the need to make good progress on the roadmap, including work to reduce administrative burdens, remove barriers and deepen integration across sectors. Von der Leyen said European commitment to those objectives was stronger than ever.

The three institutions say they will continue concentrating on key initiatives intended to strengthen Europe’s competitiveness.